Tropicana Corp expects RM2 bil sales from Tropicana Urban Homes

PETALING JAYA (July 28): Tropicana Corp Bhd expects Tropicana Urban Homes, a new collection of affordable condominiums, to contribute RM2 billion sales in the next two years.

Under the Tropicana Urban Homes collection, first up will be the 1,025 units in Tropicana Heights, Kajang and the 3,000 units in Tropicana Aman, Kota Kemuning. The units will be priced between RM300,000 and RM500,000 with built-ups of 650 sq ft to 1,000 sq ft.

The gross development values (GDVs) for Tropicana Urban Homes in Tropicana Heights and Tropicana Aman are RM423 million and RM1.3 billion, respectively, group CEO Datuk Yau Kok Seng told reporters at a press conference after the launch of Tropicana Urban Homes.

He said the 3,000 units in Tropicana Aman will be launched over three phases in the next six to nine months with phase 1, comprising 766 units, to be rolled out in September.

The developer aims to build 10,000 to 15,000 units of Tropicana Urban Homes in the Klang Valley, Penang and Johor over the next five years.

Given the strategic location and affordable pricing for Tropicana Urban Homes, coupled with the developer’s strong track record on delivering quality homes, Yau is confident that the new collection of homes will be well received.

“We have a total landbank of about 1,300 acres with an undeveloped GDV in excess of RM50 billion. Around 20% of the landbank will be allocated for the affordable homes,” he said.

Meanwhile, Tropicana is planning to unveil two new launches this year, namely Dalia Residences in Tropicana Aman and Tropicana Cheras at Sungai Long.

With a GDV of about RM400 million, Dalia Residences is a semi-dee high-end development while Tropicana Cheras is a RM40 million terraced housing development.